On January 1, 2020, Eagle Company borrows $24,000 cash by signing a four-year, 8% installment note....

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On January 1, 2020, Eagle Company borrows $24,000 cash by signing a four-year, 8% installment note. The note requires four equal payments of $7,246, consisting of accrued interest and principal on December 31 of each year from 2020 through 2023 Prepare the journal entries for Eagle to record the note's issuance and each of the four payments. (Round your intermediate calculations and final answers to the nearest dollar amount.) View transaction list Journal entry worksheet < 1 2 3 4 5 Eagle borrows $24,000 cash by signing a four-year, 8% installment note. Record the issuance of the note on January 1, 2020. m Next 1 2 3 4 5 Eagle borrows $24,000 cash by signing a four-year, 8% installment note. Record the issuance of the note on January 1, 2020. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2020 Clear entry View general journal Record entry On January 1, 2020, Eagle Company borrows $24,000 cash by signing a four-year, 8% installment note. The note requires four equal payments of $7,246, consisting of accrued interest and principal on December 31 of each year from 2020 through 2023 Prepare the journal entries for Eagle to record the note's issuance and each of the four payments. (Round your intermediate calculations and final answers to the nearest dollar amount.) View transaction list Journal entry worksheet < 1 2 3 4 5 Eagle borrows $24,000 cash by signing a four-year, 8% installment note. Record the issuance of the note on January 1, 2020. m Next 1 2 3 4 5 Eagle borrows $24,000 cash by signing a four-year, 8% installment note. Record the issuance of the note on January 1, 2020. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2020 Clear entry View general journal Record entry

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Working Note Year ending Dec 31 2021 2022 2023 2024 Total Amortization ... View the full answer